Aqua Capital, a private equity fund with operations in the agribusiness, logistics and food industries, has recently acquired controlling stock of GeneSeas, one of the leading producers of tilapia in Brazil, with units in the states of São Paulo and Mato Grosso do Sul.
The new investment gives GeneSeas the financial capacity for already planned expansion and modernization. The short-term projects include a packing plant, and a new fattening unit by the Quitéria River, both located in the state of Mato Grosso do Sul.
With a current two-percent market share in tilapia production in Brazil, the company will strive for reaching nearly five percent by 2019. The company also exports to the very rigorous U.S. market and sells salmon in Brazil.
This is the third large deal closed by Aqua Capital in 2015. Earlier this year, the firm announced the acquisition of Grand Cru, the country’s largest wine store chain. In the agribusiness market, it acquired Dimicron and merged it into Aminoagro, forming one of the three-largest foliaceous fertilizers in Brazil.
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